Indian
Indices: Asian indices opened flat to slightly positive as overnight US indices
closed marginally in the red for another day. Gold prices saw defensive
buying while bond yields fell as markets consolidated the recent gains. Oil
importers gained while oil exporters fell even as financial stocks saw profit
booking.

Nifty witnessed huge reversal intraday after hitting 9700 to close
marginally in the red as midcap stocks led the sharp selloff. Metals, Realty
and select FMCG sold off while select Pharma and Cement majors saw buying
while the broader market breadth was extremely poor. For today expect weekend
blues to see quiet trade in the first half while second half profit booking
may be on the cards.

The BSE
Sensex is currently trading at 31211.85, down by 78.89 points or 0.25% after
trading in a range of 31197.36 and 31365.39. There were 11 stocks advancing
against 20 stocks declining on the index.

The broader
indices were trading in red; the BSE Mid cap index was down by 1.35%, while
Small cap index was down by 1.50%.

The CNX Nifty is currently trading at 9590.25, down
by 39.75 points or 0.41% after trading in a range of 9585.15 and 9647.65.
There were 15 stocks advancing against 36 stocks declining on the index.

MARKET
INDICATORS

·

Group ATopGainers

Company

Price (Rs)

% chg

JPAssociat

17.27

4.98

Wockpharm

573.65

2.58

Mindtree

531.45

2.06

RDEL

61.15

1.92

Group ATopLosers

Videoind

17.20

-4.97

Fortis

177.25

-10.46

Prestige

245.95

-4.54

IIFL

583.00

-4.42

INDEX
PERFORMANCE

Indices

Support

Resistanes

Sensex

31205

31415

Nifty

9610

9675

Technical view: Nifty found strong resistance around 9700 and now
finds support around 9600 which if broken can trigger a fall till 9500. Bank
Nifty also saw resistance around 23900 while 23650 will act as support on the
downside, which if broken can see 23650 being tested.

Just Dial Jun FUTs (SELL Below 392 with Stop Loss at
398 for Target of 382):The stock has been consolidating for the past six
days and has finally broken down from a Symmetrical Triangle pattern
on the daily charts. The recent price action indicates that steeper decline
is on the cards. Other momentum oscillators also suggest that the downfall is
likely to extend.

EconomicSnippets:

India's government is facing mounting pressure to raise import duties
on edible oils after farmers staged mass protests in key farm states amid a
slump in oilseed prices to below government support levels. (Moneycontrol)

With the Goods and Services Tax (GST) coming into effect
from July 1, train passengers will have to pay a bit more to travel AC
and first class. Service tax on ticket charges is set to hike from 4.5 % to 5
% after the GST implementation. (FE)

RBI Governor Urjit Patel had argued for avoiding “premature policy
action” and waiting for more inflation data at the meeting of the interest
rate setting panel earlier this month.

Nifty Movers: The top gainers on Nifty were Power Grid up by
0.99%, Wipro up by 0.88%, NTPC up by 0.63%, Sun Pharma up by 0.62% and TCS up
by 0.48%. On the flip side, Indiabulls Housing down by 4.51%, Indian Oil
Corporation down by 2.96%, Bank of Baroda down by 2.15%, Bosch down by 2.07%
and Tata Steel down by 2.03% were the top losers.

Top Sectoral& Stock Screening:The top gaining sectoral indices on the BSE were IT up by 0.28% and
TECK up by 0.14%, while Realty down by 2.06%, Metal down by 1.42%, Basic
Materials down by 1.33%, Industrials down by 1.30% and Auto down by 1.24%
were the losing indices on BSE.

Top of Form

Bottom of Form

Bottom of Form

On the global front: On the global front, Asian shares were trading
mostly in green, with China in focus after the country’s banking regulator
sought more information on credit risks linked to loans to major companies
that bought major assets abroad. Japanese manufacturing activity slowed in
June as new orders grew at the slowest pace in seven months, a sign of a slight
weakening in domestic demand.